http://finance.yahoo.com/blogs/breakout/no-reason-own-stocks-now-charles-nenner-164150253.html
"Thinking about testing the waters of a badly beaten stock market?
Think again. That's what the proprietary research of Professor Charles Nenner shows. This former Goldman Sachs technician uses more than 200 indicators to analyze trends and cycles and has come to stark conclusion.
"My system is very bearish," Nenner tells Breakout via telephone from Amsterdam.
"I think 1139 (in the S&P 500) is going to hold," he says, but he wouldn't buy any bounce because his work shows this cycle continuing into October. "My systems are showing a lot of risk. We are totally out of the market after reaching our upside price target about 200 points higher."
So, as much as you might be tempted to call the bottom in this slump, Nenner flatly says there's no reason why you should be long stocks. And even though 0.25% for a 2-year Treasury might seem uninspiring, Nenner says making no money in bonds is not a reason to try to make money in stocks."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment